Security group G4S is planning for acquisitions in emerging markets would drive growth in 2013. The company is looking for acquisitions in India and the Middle East to help it towards a target of growing emerging markets revenue to 50 from 33 percent of the group by 2019. (Reuters)
European co plans $300m buyout of tech firm CSS Corp: European private markets investor Partners Group may back a management buyout (MBO) of the unlisted IT services firm CSS Corp, a majority of which is owned by three financial investors. Private equity investors SAIF Partners, Goldman Sachs and Sierra Ventures together own nearly 70% stake. The deal-making, which is in preliminary stages, could value the firm at about $300 million. Partners Group, managing assets worth over $32 billion, backs private equity funds but also makes direct investments in companies. (The Times Of India)
Metal billionaire plans biggest debt refinance: Vedanta Resources Plc (VED), the oil and metals producer controlled by Indian billionaire Anil Agarwal, is seeking about $3.5 billion (INR 18,974 crore) of loans in its biggest refinance plan to help extend maturity of the debt. The London-based company has hired Bank of America Corp., Barclays Plc, JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and Standard Chartered Plc to arrange the financing. Vedanta will raise about $1 billion from banks, while the remaining $2.5 billion will be sourced from the U.S. institutional loans market. The funds would be used to pay debt taken to fund the purchase of Cairn India Ltd. (CAIR) in December 2011. (Bloomberg)
Nalco stake sale on Friday; Govt to raise around INR 1,400 Cr: The Government is looking to sell 12.5% stake in Nalco on March 15, which could mop up around INR 1,400 crore ($258.24 million) to the exchequer. The share sale through OFS route will be held on friday. The Department of Disinvestment (DoD) has held roadshows in Singapore, Hong Kong, Japan, the US and the UK on February 19 for disinvestment of the state-run aluminium company. Currently, the government holds 87.15% stake in Nalco and post disinvestment, it will come down to 75%. (The Economic Times)
Harsco Corp eyes buyouts in India: Harsco Corporation, a Camp Hill, US-based industrial company, is open to acquisitions across geographies including in India. The company is looking at acquisitions that are strategic in nature and would bring unique value to our four business divisions – onsite contract services to steel and metal companies, infrastructure, rail and industrial. Harsco, which has bagged a $100-million contract from the Jindal Group for material handling and a $225-million contract from JSW Steel to provide onsite services in the last one year, is pursuing metal and mineral and rail contract opportunities in the domestic market. (Business Standard)
Batelco eyes Reliance Globalcom stake: Bahrain Telecommunication Company (Batelco) is discussing a deal to buy controlling stake in Reliance Globalcom, the enterprise business unit of Anil Ambani’s Reliance Communications. Batelco, along with a few Middle East funds, have valued the Mumbai-based Reliance Globalcom at $1.3 billion (INR 7,047.7 crore). Reliance Group would retain a minority stake in the company, if the deal goes through. (The Times Of India)
DQ Entertainment plans shares sale: The promoters of DQ Entertainment International Ltd. are looking to sell shares in the company. The share sale is to comply with the minimum public shareholding requirements as stipulated under the Securities Contracts (Regulation) Rules. SEBI has granted to sell 910 number of equity shares held by the Promoter Group on the floor of stock exchange. Currently the promoters and promoter group hold 75.001% of the total paid-up equity capital of the company. (BSE)
NMDC eyes INR 10,000-cr from stake sale in Nagarnar plant: State-owned iron ore miner NMDC is looking at garnering INR 8,000-10,000 crore ($1.47 billion – $1.84 billion) from sale of its 50% stake in upcoming three million tonne per annum steel plant in Chhattisgarh to a strategic partner. The company intends the partner to bring in necessary technologies capable of producing high-end steel products like CRGO, CRNO and auto-garde steels which India mostly relies on imports to meet the domestic demand. The company has already sought expression of interest (EOI) from interested parties. (The Economic Times)
Nimbus Projects plans to acquire Delhi based firm: Nimbus Projects Ltd. is planning to acquire majority stake in one of the Delhi based private company. The notice of the same has already been given to the concerned stock exchanges on March 4, 2013. At the outset of the meeting, the chairman placed before the board the proposal for the said acquisition and also placed the feasibility report, term and conditions for the acquisition, along with financial information of the said Delhi based company. (BSE)
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